HNA Group sets to hive off Beijing Capital Airlines's business aviation service, as domestic business aviation market is booming.

China's largest business jet operator Deer Jet was awarded ARGUS Platinum Rating certificate on Tuesday. HNA Group disclosed at the awarding ceremony it has started the formation of Deer Jet Group as a world-class business jet brand in compliance with international standards.

In 2010, HNA Group and Beijng Tourism Group renamed Deer Jet to Beijing Capital Airlines through increasing investment, making Deer Jet a subsidiary brand of Beijing Capital Airlines. As business develops, HNA decides to integrate its business aviation resources. In the coming days, HNA  plans to integrate its infrastructure products, including Shenzhen Deer FBO (Fixed Base Operator), Beijing business jet hangar, Shanghai Deer Jet, a business jet maintenance base awaiting construction and other Deer business jet service, to establish an independent subsidiary company of HNA Tourism.

China business jet market will increase by 20 to 40 percent annually in the next five years, industry insiders predicted. However, the competition is getting fiercer with the booming of domestic business jet market. Air China's subsidiary for business jet service -- Beijing Airlines -- is expected to give Deer Jet a big shock after starting operation in the near future.